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The core objectives for the institution of the ‘Raksha Mantri’s Awards for Excellence in Defence and Aerospace Sector’ are envisaged to be as follows:-
- To encourage and reward, excellence in various dimensions of Defence and Aerospace Sector.
- To facilitate widening and deepening of the Industrial base in Indian Defence and Aerospace sector by identifying ‘hidden gems’ and promoting them as role models for others.
- To provide a boost to export potential in Defence and Aerospace sector by publicising outstanding achievements at the national and international level.
- To encourage the indigenous design, manufacture and innovation by instituting focused awards in these categories.
- To facilitate wider recognition of outstanding Indian firms amongst national and international customers in Defence and Aerospace sector.
In the past, only Ordnance Factories and Defence Public sector Units/Shipyards were eligible for the annual Raksha Mantri’s Awards for Excellence in Defence and Aerospace Sector. With an aim to provide a further boost to 'Make in India' initiative in Defence and Aerospace sector, and encourage growth of Private Industry in this segment, it was decided that with effect from year 2019 onwards, DPSUs and Private sector industry engaged in Defence and Aerospace Sector will compete for a common set of Raksha Mantri's Awards for Excellence in Defence and Aerospace Sector.